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thought was going to happen because i think mr. boehner has resorted to the worst of levels and that is he's brought up legislation in order to help the right wing of his party. these are all measures, tamron, that were in a measure that we voted on in may which democrats soundly rejected. mr. boehner is still fighting this election. it is over, mr. speaker. let's get on with the peoples' work. let's have a balanced approach. the president has already reached out. he's already compromised. he's brought that threshold up from 250,000 to 400,000. i think that is -- i think that that is the right way to go. and what is mr. boehner's response to it? he wants to take that down, okay, i'll increase the tax rates but only up to -- only down to a million dollars. and we know that that's not going to bring in enough money. we need a trillion, $200 billion to make this work. there are cuts in the president's proposal. i don't agree with all of the president's proposals but, darn, i know that it's the right thing to do for my district, the state of new jersey and the rest of the states in this union.
and mr. boehner cannot get the cats s in line. you have radicals on t the right and the leleft. that is why we are in the mess we're in. >> i remember well peace tal. what does it have to doo with the fiscal cliff? they came very close to a deal between arafat and president clinton and it all fell apart when they realized he did not have the power in the street to sell a deal. it looks like john boehner does not have power instry to sell a deal. >> anything they get thrhrough the house will have to beone with democrats. not just with republicans cause we saw the caucus is divided on a lot of these issues that require a compromise. john boehner got endorsements on this plan. grover norquist dropped his tax opposition. boehner himself said many in his caucus were worried about primaries. >> grover norquist ds not have the power. essentially, he started to backpedadal on the meaning of the edge. it is absole nonsense. those conservaves do not owe their allegiance to grovover norquist. >> did he create something that he can no longer control? the power of the original tax plededge
with this. somebody has got to break it to mr. boehner, your side lost. romney, remember him? he's the guy who ran on the rich man's platform. the hands off the big boys' ticket. he's the guy who said his fellow 2%ers have your backs. mr. boehner, ye of limited memory, the voters looked this issue directly in the eye, they heard your guy, romney, playing palace guard for the plutocrats, and they said i think i'll vote for the guy who is looking out for the middle class. i think i will let that guy go back to bain or whatever. time for mr. boehner to stop protecting the rich. it's result clear. it's winner right there in the white house trying to do what the people reelected him to do. joy reid is managing editor of the grio, and david corn is washington bureau chief for mother jones and the author of the ebook "47 percent." like the way i lowered my voice there? today the president took his tax pitch to a factory in the philly suburbs and he made clear the rich must pay their fair share. the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the peo
none other than majority leader nancy pelosi. listen to her advice to mr. boehner. >> do you know what it was like for me to bring a bill to florida to fund the war in iraq? it's tough. but you have to do it. so is the point that you don't want to put your members on the spot? figure it out. we did. figure it out. >> figure it out. sound advice. >> we did. [ laughter ] >> it's true, i think that pelosi, that example, is a really vivid one, if nothing else. considering the opposition that the democrats had. the compromise that she had to make. and, as i said, there are compromising going on that we don't know about. a lot of what boehner is doing is posturing in order to appeal to people on the base and to donors. he needs to look like he fought the good fiegts. in public, it needs to look like he's really standing up for conservative principles, however confused those may be. and, in private, he may be making deals. he's known to be a man who is good at that kind of politics. this is sort of the thing where it is interesting to see that the republicans are making a bet that this postur
increases are on the table. mr. boehner has problems with the caucus. most of the member are quiet. outside groups have been harsh. club for growth and hair tage foundation are behind this to say that the speaker is out of line. but to this point he has had the benefit of his leadership holding with him. the majority leader eric cantor, whip, mccarthy and ryan behind him. that kept the republican conference together. it could fray depending on how the vote goes. >> bret: speaker boehner used the dual trap before, with the debt ceiling and how he orchestrated that negotiation back then. if the house goes ahead with the votes on thursday, carl, boehner's plan "b" could become a multiple choice. >> you heard what ed whenly was talking about there. first the vote on the plan. they anticipate an hope it will be defeated easily with the republican majority. the plan "b" is that million-dollar threshold, open question. there are republicans who have issues with it. and part of the consternation they express is when the president offered $400,000, why would mr. boehner take so it far out of what ha
. everyone is optimistic that they will finally pass a bill. mr. boehner will then try to find a common ground with democrats in the house and they will have to pass this bill as well. i'm not sure whether they will be able to do that today, so what we might see is that the house will come together tomorrow morning and pass the bill then. >> what happens if there's no deal? to the bills get paid? >> i am somewhat optimistic. if they're not going to find a solution, i think the house will have to come together after the third of january and talk about that again. if they do not find a solution fast, they will still need a few months before america could face a new recession. >> thank you so much. >> talking about money, time to check out the market numbers. it was a bit of a surge on the u.s. markets. that has come back tonight but it is still holding at 12991. eurostoxx 50. euro trading down $1.3194. >> secretary of state henry clinton in the hospital due to a blood clot from the concussion she's a reporter earlier this month. >> she is under observation and will be in the hospital at l
comes out of washington, if anything. of course, mr. boehner has gone back to his home in ohio for the weekend. the president is on duty at the white house. there are phones, as mr. boehner said, in southern ohio where he lives. if there are any developments, the two gentlemen certainly will be able to get in touch with one another. meantime, there are some individual stock stories of interest at this hour. and one of them concerns facebook. be a facebook lockup expires today and 150 million shares will open up on the market. the last time we had a lockup expiration many expected to see the stock drop. instead, it rallied. right now, no, not so much. facebook down about 89 cents so 3% at 2735. but it is up about 25% over the past three months. julia has the details for us from washington. >> tyler, this is the fourth of five lockup expiration periods. today's potential sellers could also sell in ipos. we shouldn't see any pent up demand to sell. facebook shares are dropping today, off about 3 percent percent as you mentioned. a bit of profit taking after the company's massive r
republican plan b tax proposal designed to avert january 1st tax hikes. the house speaker, mr. boehner, responded by saying that that was irrational and bizarre. john harwood is at the white house to sort out all the latest. yesterday, john, they thought they were getting real close to a deal. it certainly doesn't sound that way today. >> sue, it does appear that they've hit a deadlock in negotiations. you saw the president in a fascinating news conference that he just had in the white house briefing room try to leverage the emotional power of the tragedy in newtown, connecticut, to try to put the pressure on republicans. he talked about them taking off their partisan war paint. he said he'd more than met them halfway in terms of spending cuts that he's offered, coming up in the income threshold for tax increases, and he has the upper hand in public opinion. there's no question about that. he is not surrendering that at this point. the question is whether speaker john boehner can move his caucus, even as far as he's already moved further toward the president. that's what the next coupl
cuts over the next ten years, mr. boehner wants $800 billion in entitlement cuts, and we're going to see a big, dramatic negotiation. and what you and i is -- and all of our fellow americans are looking at is the prospect of a recession next year if the president and mr. boehner can't come to an agreement, as much as a 10% unemployment rate because both this president and the republican party, as you can see here, are playing at the margin. and the national media is not focusing on what the reality is. they're just playing games right in washington. folks in office and this president is guilty of class warfare. for what? for that? are you kidding me? president obama seems to love the drama. i thought he didn't like drama. but the reality is there will be is little impact on our fiscal future. and as a nation, after all of the drama and whatever the outcome, we remain in great jeopardy. because this isn't a fiscal future any of us, any of us wants. >>> morsi declares martial law in gypt and claims he's not a dictator. the obama middle east policy coming undone. the a-team reacts.
with this. snb's got to break it to mr. boehner. your side lost. romney, remember him? he's the guy who ran on the rich man's platform. he's the guy who said to fellow 2%ers, got your back. told the other 47% to go fly a kite. they look this decision directly in the eye. they heard the president blaring away about the need to hit the 2%. they heard your guy playing palace guard and they said i think i'll vote for the guy who's looking out for the middle class. time for mr. janer to stop defending his rejected politics, stop talking about the rich and threatening more fights to defend them. the fight was clean and clear. trying to do what the people leektded them to do. join the managing director. 47%. both are msnbc. like the way i lowered my voice there? today the president took his tax pitch to the factory in the nilly suburbs and made clear the rich must pay their fair share meaning they must go up to the top 2%. a tax cult for 98%. the rest of the people, let's listen to them. >> it's not acceptable to me and i don't think it's acceptable to you for a handful of republicans and congress
wants one thing and mr. boehner once another.see and we will see a knockdown drag out fight any big dramatic of negotiation. what you and i and all americans are looking at is the prospect of a recession next year if thed president and mr. boehner can't come to agreement. as much as a 10% unemploymenttyn rate, because both as president and republican parties parties, as you can seema here, they aret playing at the margin in thecust national media is not focusing washit the reality is. they are just playing games. right along with the folks in washington. this president is guilty of class warfare. for what? are you kidding me?ma. president obama seems to love rt the drama. i thought he didn't like drama. the reality is that there will be so little impact on our fiscal future. the after all of the drama and whateeer the outcome, we remaih in great jeopardy. because this isn't a fiscals. future. this is not something that any of us want. don't you love it? a lame-duck session of congress. they areon the ones who have to steer us away from the fiscal cliff. joining us tonight, governor
toward what mr. boehner had suggested, which freaked the left out a bit, understand but this is how a negotiation works, right? i mean, whether or not you like the content of how exactly they are negotiating, it seemed like they were making the right mechanical gestures at least. here's my start. well, here's my start. well, here's another idea. and now it's john boehner's turn. and now john boehner's done nothing for basically a week, until tonight. when he decided that rather than making any further offer he would insist that the house, house republicans, the house of representatives, would vote on something basically totally unrelated to the entire discussion he's been having with president obama. it's not a counteroffer. it does not address any of the things they're supposed to be negotiating over. it was in effect just a conservative wish list. tax policy center and the center for american progress looked at what speaker boehner wanted the house to vote on tonight and said that basically, bottom line, it was a way to lower taxes on rich people. also, it guts obamacare, and it s
to pass plan "b" that very same week. then it was mr. boehner who said it was up to the senate, someone else's problem. just from a pr perspective, what john boehner has done here is a debacle for the republicans. and the white house, they've just been sitting back the last week or so and letting it happen. but today, they gave us their plan going forward. you could call it deal and jam. >> i'm optimistic we may still be able to reach an agreement that could pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. but if an agreement isn't reached in time, between senator reid and senator mcconnell, than i will urge senator reid to bring to the floor a basic package for an up or down vote, one that protects the middle class from an income tax hike, extends the vital lifeline of unemployment insurance to 2 million american looking for a job, and lays the groundwork for future cooperation on more economic growth and deficit reduction. you guys, i can hear you over there. i believe such a proposal could pass both houses with bipartisan majorities.
mr. obama and mr. boehner. that's why european markets have been trading higher the last two trading days because there is optimism that we will see a deal before the end of the year. >>> as always, why are you awake at this hour? shoot us an e-mail at waytooearly@msnbc. we'll read the best responses later in the show. >>> still ahead on "way too early," it only took 24 turnovers and 15 weeks, but jets coach rex ryan benching mark sanchez, but that doesn't mean tim tebow will start next sunday. that story and a check of weather when "way too early" comes back. >> i hereby deliver these two articles of impeachment. i love the holidays. and with my bankamericard cash rewards credit card, i love 'em even more. i earn 1% cash back everywhere, every time. 2% on groceries. 3% on gas. automatically. no hoops to jump through. that's 1% back on... [ toy robot sounds ] 2% on pumpkin pie. and apple. 3% back on 4 trips to the airport. it's as easy as... -[ man ] 1... -[ woman ] 2... [ woman ] 3. [ male announcer ] the bankamericard cash rewards card. apply online or at a bank of america near you
concession saying the threshold on tax increases will be $500,000 or more. mr. boehner may not take that, but if he does, it still leaves a lot on the table, no major spending cuts in the deal, no major entitlement reforms, and no lifting of the debt ceiling. basically, a lot of people would be unhappy, and basically feel like the lawmakers punted again. lou? lou: thank you, ed henry, fox news chief white house correspondent. well, with all of the public attention focused or not fiscal cliff and on again off again negotiations, the obama administration is issuing massive numbers of of red tape covering everything from environmental regulations to obamacare. watchdog groups say thh new rules are implemented so quickly that opponents are not able to get enough time to wage in -- weigh in on them. shannon has the latest from washington. >> when congress passes a law, it's basically just a frame work; then federal agencies delegated the authority to write regulations and rules that spell out just how the law will be enforced. before they become time, there's a comment period when the public,
with mr. boehner, mr. boehner said here's $800 billion for revenue and what do i get for that? the president allegedly said, that's for free. that's not evidence 6 somebody who wants a deal who, wants to lead. >> eric: what would you like to see? >> i would like to see a clean deal. i would like to see something that fixes the problem. keep in mind, one of the things that frustrates me is that the fiscal cliff is getting all of this attention, when it's real. i don't want to diminish it. but it's a drop in the bucket. the tax increases that the president wants that represent 8 cents of every dollar of debt. we are not dealing with the overall problem. that's what i would like to see. something that brings as much attention to the $16 trillion debt, as it does to the relatively small tax increases. that's what i would like to see, the government dealing with the serious questions, not the immediately pressing questions? >> how do we deal with it? $16 trillion debt, projected to go up to $20 trillion over the next 2 years, if you are washington can't deal with that. how do you s
between mr. boehner and the president off the election and mr. boehner put 800 billion of revenues on the table and talking about negotiations and the president says i get that for free, i'm not giving you anything for 800 billion dollars. and washington is a rumor mill, as you can probably mante imagine, and we've heard that the change cpi would be off the table, an indication of a smaller deal, not a larger deal, and it's hard to imagine a larger deal without including those. and things are moving quickly despite the fact it seems fairly quiet on capitol hill. >> harris: we're edging later and later on this sunday night and talk about things that have been said that can shift the temperature of where you are. senator reid has said he cannot offer a counter offer because he says, quote, we're too far apart on some pretty big issues. what's he talking about? >> i don't know, the first i've heard. when people tells they don't want a counter offer, it tells they don't want to deal. it strikes me it would not be difficult to focus just on the tax rates. i think what you might be seein
" hypothesis is by now a pretty well-founded hypothesis. that was the case even before mr. boehner's republican caucus just imploded last night and gave up and went home and asked the democrats to instead see if there is something maybe they instead can do at the end of year negotiations that the cbo says will put the country back in recession if they are not successful. john boehner is in fact bad at his job. i think the hypothesis has been proven. but now the most important question is why. why is he so bad at his job? is it just a matter of him not being up to the job as a person, as a individual? does he not have the capacity and somebody else could do it? or is his job in fact impossible? what if the fractious ideological argument commitments of congress are incompatible with governing. if you need to, say, compromise in order to govern, and one side for political reasons cannot compromise, then they cannot govern. it's like if you have a peanut allergy, okay. you can't get a job making reece's pieces. or if you have a religious prohibition against you operating modern motor vehicles. that
. however the tea party folk don't want any part of that. and that would put mr. boehner's speakership in vulnerable position. let's face it, mr. boehner is worried about the country but most of all worried about mr. boehner. tracy: right, exactly. peter, i love your analogy we could go bungee jumping because i think at end of the day that is what happens, right? they will make everything retroactive. what does that do to the economy or at least people's psyches, very well be the first month of the year? >> if it is a whole month it is not bunge jumping. we're off the cliff. they have to have a deal in sight or people will start to change their behavior in two ways. they have less money to spend. if you think folks lack confidence in washington now, if they can not resolve it and no liz solution in sight, consumers won't have much confidence in washington and investors may start getting shaky about u.s. bond. tracy: peter what is the time frame, what do they have? do they have a week into the new year? two weeks before all hell breaks loose? >> it depend whether in the first week they
hike unless you get whatever cuts you can get plus a revenue increase. what do you think of mr. boehner's idea, cap deductions and get $800 million in revenues? does that make any sense. >> that's a tax increase. it's a bad idea. but i have yet another thought how we could fix this. why don't we let the democrats pass whatever they want. if they are the party of higher taxes, all the republicans in the house vote present and let the democrats raise taxes as high as they want to raise them. let democrats in the senate raise taxes. let the president sign it and then they can own a tax increase. and when the economy stalls, when the economy sputers, when people lose their jobs, they know which party to blame, the party of high taxes. let's don't be the party of just almost as high taxes. >> some people have called that the doomsday scenario. others have said it's a strategic retreat on the republicans' behalf. would you vote present for that in the senate if it comes up? >> i don't think we have to in the senate. i'm happy not to filibuster it and i will announce tonight on your show that
to that saying, "maybe i will." [ laughter ] which boehner replied, "maybe i will." and mr. obama replied "whatever." mr. boehner replied "whatever times infinity," to which obama replied, "damn, infinity. you win for now." >>> if only it were that simple. well, it is 12/12/12, and over a dozen superstars will be getting together for this huge sandy relief concert. this will be massive and will be broadcast to over 2 billion homes worldwide, making it the most widely distributed music event in history. the lineup just as huge -- bon jovi, kanye west, paul mccartney, bruce springsteen, many, many more. it's going to be pretty incredible. >>> so, in absolutely shocking news -- i know you'll be floored about this one, dylan -- a reality series is being sued for staging events, allegedly, in the show. ame's "storage wars" is accused of planting valuable and unusual items on the show. a former cast member says he was fired after complaining about the deceptive practice. don't you love how we don't have bill interrupting me the entire time? dylan's so quiet over there. >> i didn't know i could!
, okay, have to turn out in 2014, you said we wouldn't raise tax rates, mr. boehner. now why are you raising tax rates? >> yeah. that's his conundrum. and you know, the rhetoric from before is coming back to bite, there's no doubt about it. but the question is, if you're not going to get at the table and put that on the table, then what are you going to -- what is your offer to the president that's actually going to get the deal done before january -- before december 31st? >> ari melber, i think that president obama and the democrats are dr. no. all they do is say no. boehner keeps coming in and making concessions, particularly on revenues. they may blow up the whole republican party for all i know. and president obama just says no. and harry reid says no. and chuck schumer says no. we want more tax revenues. we will not cut entitlements. nancy pelosi said no entitlement cuts. you are the party of no. >> i don't feel like the party of no. i think a lot of democrats feel like the party of yes in the sense that the country gave a big yes to obama's plans. and to echo part of what chair
, reducing the benefits. he's going against his base. he is within $300 billion of what mr. boehner has proposed -- snow he's not. >> it's veries are very close, mr. boehner can comp plies and do something about the debt. i agree, we need to do something about it -- >> greta: obama wants the fiscal cliff and he's going to do -- going to get it. >> sean: former marine, jon hammar remains behind bars in a mexican prison, over trumped-up mexican prison, over trumped-up gun you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. bass proshops has plenty of great last minute gift ideas, like... plus there's still time for a free picture with santa. can i still ship a gift in time r christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. by december 22nd let'for an idea.s
get a deal, it sounds like a small deal, 250,000 is the middle class threshold after mr. boehner's plan "b" got defeated. is such a thing possible? or will we have to wait until the new year? >> we're probably going to have to wait until the new year, unless, of course, president obama comes back with this new plan -- the original plan that he had, which as you mentioned the $250,000 threshold. the fact is that boehner and obama's proposals really aren't that far apart right now. president obama wants $1 trillion in new taxes, john boehner has said he's willing to give $1 trillion. obama said he wants $800 billion in spending cuts, same thing for boehner. but the difference comes with the once again, the tax threshold. president obama originally said he would be willing to go with the $400,000 tax threshold. and as boehner said going off obama's words, he was willing to do it at $1 million. it comes down to what that threshold is. >> karen finney, i want to ask you about the same question, this ten days business. but i also want to amendment that question or expand it. how much d
wherever you are especially if you're the president. bottom line, it's become clear that mr. boehner, despite my view, his best efforts can't get the votes in the republican conference. so any -- anything that we'll do before the january 1st deadline will have to be negotiated with mr. reed and they'll come back to the house and probably be passed with democratic votes. that's the only path forward and it obviously would be a long way from a grand bargain. >> are you fine with that, congressman? that he's not going to go for the grand bargain recently saying that he'll go for something less? >> it's a disappointment. we need a grand bargain and this is a great disappointment to many of us on both sides of the aisle. the other thing is even if we get something that deals with the taxes, you know, for everybody 250 and below, we're going have that whole debt ceiling overhang and that again is the backdrop by which we have discussions on the spending restraint and that's just a -- you know, that's the economic weapon of mass destruction and it would have been preferable to take the debt
on the trading session. most of that drop cake after mr. boehner made comments about the continues impasse in trying to resolve the fiscal cliff. s&p down 23, down three quarters percent. and the nasdaq is down about half a percent. bob joins me on the floor of the nyse. the market is very undecided about what is happening in washington. what the feds know that perhaps we don't know. >> we are getting smacked around by these two separate events. the fiscal cliff as well as aftermath of what went on with the fed. i think the fed is still very important here. take a look the dow industrials. remember, we started moving down right after we saw mr. bernanke give his press conference. we talked about fiscal cliff having problems, not having the tools to deal with the fiscal cliff. the fed not having it, should we go over that. there we are dealing with the aftermath. remember something folks, september 14 is the high for the s&p this year. you know why that is important in september 13 is the fed meeting. they bought into the fed meeting and sold right after that, sue. and they are doing that a
that is a miscalculation, should that be the means for removal of mr. boehner as speaker, will republicans call for his removal? >> i think there is a growing sentiment inside the republican caucus that the speaker is not up to the task. he will have another shot later this week. hopefully, he will step up to the location. david: if he does not, who takes his place? >> well, i think the author, it is a very difficult politics, the odds are high that majority leader cantor would assume the position. he has been an incredibly loyal soldier to speaker boehner and i think he will continue to be. there is clearly a need for a stronger, tougher negotiator and someone who is playing on the same set of rules as the president. right now, it does not appear that the speaker meets either of those criteria. david. interesting. bill nelson, thank you. [talking over each other] david: now to today's other big story. holiday shopping. forecasts call for a very busy holiday season. tracy: did shoppers live up to those expectations? >> it is a classic answer to that question. it depends on who you ask. it will still be
secretary tim geithner says the president is ready for what he calls difficult concessions. mr. boehner says he was flabbergasted at the white house stance on what they say needs to be done. peter doocy has details this morning on the latest developments from washington. good morning, peter. >> good morning, eric. spieger boehner said negotiations are nowhere, period and he called treasury secretary tim geithner's presentation of the white house proposal to avoid the fiscal cliff earlier in week "nonserious." >> i was flabbergasted. i lookedded a him like you can't be serious. i've just never seen anything like it. you know we have seven weeks between election day and the end of the year. three of those weeks have been wasted with this nonsense. >> reporter: here is what has the speaker flabbergasted. the white house would like to raise tax rates on top earners to where they were in the clinton administration, 39.6%. they would also like to raise $1.6 trillion with new taxes over the next decade, while cutting about $400 billion through entitlement reform. although, those cuts are not specif
portion of that is the people were young. the grand ambassadors for republicans, you have mr. boehner, and he ran a good who came across could not operate a computer and now a billionaire mormon but they not people who are shattering any negative preconceived notions that people have toward republicans so people say no, no, no, no, no, i am not a republican, i take it back. >>neil: there were a lot of young people there, largely a democrat vote and when they express their views, they seem conservative or more conservative than what is let on. what do you think republicans can take away for future nominees or future candidates? >>guest: it is not that the messaging hasn't been effective, but that conservatives generally have not tried. republicans have not reached out. if republicans only mitigated the loss of young democrat graphic to -- demographic to 15 percent but not lose pick 20 percent or 30 percent or up to 60 percent, as we saw, they would never lose again. the fact they don't that is more vexing than the fact that you and john stossel never seem to age. what do you do at nigh
the meetings between mr. boehner and the president were pretty icy. if you have that atmosphere, what can get done? >> it's right. these guys can't make a deal with each other. the "wall street journal" are owned by our parent company, newscorp, had a great behind the scenes recounting of the last couple of weeks of negotiations. at one point boehner said to the president i'm offering $800 billion in new revenue, what do i get for that? and the president said you get nothing for that. >> in the next hour, billionaire businessman john castmeeti says they should get together. merry christmas and happy holidays. >> thank you, same to you. >> merry christmas, chris. >> thank you, jamie. >> coming up, chris's interview with john brasso -- >> 2:00 p.m. and 6:00 p.m. only here on the fox news chance. >> the doctors are in for the "sunday house call." they'll talk about incredible breakthroughs in medicine. this is reminder of what you need to know to stay healthy next year. a pill that holds sand grain sized microchip. >> wow. >> we'll tell you why that's important. >>> good news for folks battling
as we speak over on the house side. mr. boehner and his leadership team are going to go over the details of this latest offer from the administration with rank-and-file house republicans. the unified republican leadership is key here. thus far boehner had the gop pretty much behind him. the speaker, his majority leader eric cantor, his whip, kevin mccarthy and budget chairman paul ryan have been very, very strongly locked in arms as they're negotiating with the president giving boehner an opportunity to go down there and saying what could be a feasible deal or not. there is lot of skepticism among those leaders about this proposal from the president. they say the tax relief is too much. still too high at $1.2 trillion and that the president's spending reductions aren't balanced. they insist mr. boehner and the republicans have put the possibility of tax increases and letting bush tax cuts expire for the wealthiest on the table but their threshold is a million dollars of income and higher. by putting it on the table they say the president has to come up with significant spending reduction
cliff talks with the president and speaker boehner. "the president repeatedly reminded mr. boehner of the election results -- you're asking me to accept mitt romney's tax plan. why would i do that? at another point, the speaker noted his gop majority would also return next year." that doesn't exactly sound like the basis for a deal. your interpretation? >> no, but this is why the president is not moving. but i completely agree with david when he says that the president, in order for these republicans to step out on the ledge -- remember, it's not only tea party republicans. it's been framed, but there are republicans in the house that have been there for 20 years who are against raising taxes. this is the republican dogma. it's been in place for 30-some years since the reagan era. they're against any tax hikes on anyone in any circumstance. so to really bring those republicans over that could stomach it, they need to see real concrete cuts on that side and also some entitlement reform, because that's where the spending has to really change in order to deal with the deficit. but rem
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